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India's CAD to widen to (-) 1.6% in FY 16: DBS

By Religare

A DBS report has said that India's current account gap is expected to widen modestly to (-) 1.6 per cent of GDP in the current financial year from (-) 1.3 per cent last year, media reported.

Commenting on the issue, a DBS Official told the media, "Factoring in weak exports that partly offsets the benefit from a lower commodity import bill and moderating services trade surplus, we expect the current account gap to widen modestly to (-) 1.6 per cent of GDP in FY 15-16 from (-) 1.3 per cent last year."


The global brokerage firm further said that the basic balance of payments have also narrowed notably and added that worries over India's external balances are on a flash-point for the time being.

For the first quarter ended June 30, CAD narrowed to 1.2 per cent of GDP at USD 6.2 billion following contraction in trade deficit and higher earnings from services exports.

Story first published: Tuesday, September 22, 2015, 23:00 [IST]
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